Singapore GDP Growth Eases to One-Year Low as Trade Risks Mount
- Economy expanded 1% quarter-on-quarter in April to June
- Manufacturing, construction contracted, while services rose
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Singapore’s economy expanded at a slower pace than forecast in the second quarter, clouding the outlook for the export-reliant city state at a time when global trade risks are rising.
Growth in Singapore’s economy, among the most trade-reliant in Asia, could ease further as an export boom moderates while risks are mounting. The nation is facing the threat of tariff wars, high oil prices, a global policy tightening cycle, and a U.S. dollar appreciation.